The AIRBLOC Protocol ICO
What is AIRBLOC?
The AIRBLOC team hopes to capitalize on the growing data analytics business. Companies today are willing to spend millions of dollars acquiring and using personal data provided by users of apps and services. However, users do not have control over the use of their data, and there is growing concern that these services have become a threat to privacy. At the same time, entrepreneurs and other data consumers often cannot find the data they need.
The AIRBLOC team believes the solution is to create a decentralized platform where app users can earn money by providing data. This, they believe, will ensure the data provided is trustworthy and useful.
How does AIRBLOC work?
If an app wants to sell user data to advertisers, it installs the AIRBLOC SDK and states how much revenue it will offer to share with users. Once this is done, users will get a prompt the next time they log in asking if they want to share their data in exchange for a percent of the revenue their data provides. If the app offers to share enough revenue, users will agree and data will be collected.
Examples of data that consumers may share include spending history, list of installed apps, Google Play purchase history, GPS data, in-app purchase history, and more.
Once the data is collected, refiners can purchase the rights to sell it to others. This will allow them to refine the data into sub-categories that are useful to advertisers. Alternatively, advertisers can purchase the un-refined data directly from apps.
There is a risk that apps or users could provide fake data. To prevent this problem, AIRBLOC will require apps to execute KYC on users and to hash users’ emails and phone numbers before providing data to the AIRBLOC network. In addition, the AIRBLOC network will rate users and provide a Personal Reputation Evaluation (PRE) based on contribution and participation. Users with high PRE scores will be eligible to become data reliability miners and earn tokens in exchange for verifying the authenticity of data. The AIRBLOC team believes this system will provide trustworthy data while at the same time properly compensating users.
How is AIRBLOC unique?
AIRBLOC’s main competitors are centralized data-brokerage companies like Rapleaf, Recorded Future, Intelius, PeekYou, Acxiom, Corelogic, and Datalogix. However, these companies often have unreliable data because they do not compensate users. In addition, the data-collection methods of these companies has increasingly come under scrutiny by the public and may be subject to regulation in the future.
Because of the problems with traditional data-brokerage services, the AIRBLOC team believes it can compete effectively against these companies.
Who makes up the team behind AIRBLOC?
The AIRBLOC team consist of experts in data analytics, web development, blockchain, and publishing. The includes CEO Sung Pil (Roi) Nam (former Web Developer for Software Maestro program), Development Team Lead Wonkyung Lyu (former Python and Data Analysis Lecturer), Design Team Lead Naeun Kim (Designer and Publisher of Movie Magazine anno.). In addition, it includes software engineers Hunjae Jung, Hyojun Kim, Byeongsu Hong, Woojung Kim, Jaewan Lee, and 14 other engineers, marketers, and business development experts.
Advisors to the team include JH Kim, Jason Han, Sean Lee, Sunjae Hwang, Louis Jinhwa Kim, Dorjee Sun, Ken J. Kim, Seo Wooseok, and Timothy Yang.
More details about the AIRBLOC ICO
The AIRBLOC ICO is launching at 12 pm (GMT) on 19 June, 2018 and will end at 12 pm (GMT) on 29 June, 2018. Investors that want to participate will need to sign up for the whitelist. For the public, tokens will be transferable as soon as the ICO ends.
The AIRBLOC tokens (ABL) will cost US$0.0609 each, to be paid in ETH equivalent. The minimum investment amount for each individual to participate is 0.5 ETH, while the maximum is 150 ETH. The team hopes to raise US$12.2 million total.
The June 19 public sale will comply with the following allocation strategy:
55.4% of the tokens will be sold in the private sale, presale, and public sale
20.1% will be put into the rewards pool for ecosystem participants
13.3% will be given to the team
4.5% will be given to the advisors
4.5% will be kept in reserve
2.2% will be reserved for security and legal research
The funds raised will be used in the following manner:
50% will be spent on developing the AIRBLOC decentralized platform
20% will be spent on marketing the platform
10% will be spent on operation and maintenance
10% will be reserved as an emergency fund
5% will be spent on partnership and business development
5% will be spent on creating national branches and holding meetups for these branches